Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
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Textbook Question
Chapter 32, Problem 33P
Using the research skills you have acquired, retrieve the following data from The World Bank database (http://databank.worldbank.orgdata home.aspx) for India, Spain, and South Africa for
• Telephone lines
• Mobile cellular subscriptions
• Secure Internet servers (per one million people)
• Electricity production (kWh)
Prepare a chart that compares these three countries. Describe the key differences between the countries.
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Students have asked these similar questions
why are International comparisons of GDP misleading
(1) Use the data from the following table to calculate the GDP per capita of each country. The GDP per capita for Estonido and for Galicia in 2018 is
Country
Year
GDP (billions in U.S. $)
Population (millions)
Estonido
2017
525.50
73
Galicia
1,658.00
118.25
Estonido
2018
721.75
78
Galicia
1,724.30
121.8
(a) $925 for Estonido and $1,412 for Galicia in 2017.
(b) $9,253 for Estonido and $14,157 for Galicia in 2017.
(c) $7,199 for Estonido and $14,021 for Galicia in 2017.
(2) When calculating GDP as the sum total of all spending, which of the following should be included?
(a) government purchases of labor, goods, and services.
(b) government transfer payments.
(c) savings.
(3) For productivity to increase
(a) the total number of hours worked has to increase.
(b) the value of the production per hour worked has to increase.
(c) the total production or output has to increase.
Goods and services that are not sold in markets, such as food produced and consumed at home, are generally not included in GDP.
As a result, you would expect the GDP per person in India and the United States will differ by_____ than their actual comparative economic well-being.
Chapter 32 Solutions
Principles of Economics 2e
Ch. 32 - Using the data in Table 32.3, rank the seven...Ch. 32 - What are the drawbacks to analyzing the global...Ch. 32 - Create a table that identifies the macroeconomic...Ch. 32 - Use the data in the text to contrast the policy...Ch. 32 - What are the different policy tools for dealing...Ch. 32 - Explain how the natural rate of unemployment may...Ch. 32 - How does indexing wage contracts to inflation help...Ch. 32 - Use the AD/AS model to show how increases in...Ch. 32 - Show, using the AD/AS model, how governments can...Ch. 32 - What do international flows of capital have to do...
Ch. 32 - Use the demand-and-supply of foreign currency...Ch. 32 - What is the primary way which economists measure...Ch. 32 - What are some of the other ways of comparing the...Ch. 32 - What are the four other factors that determine the...Ch. 32 - What other factors, aside from labor productivity,...Ch. 32 - What strategies did the East Asian Tigers employ...Ch. 32 - What are the two types of unemployment problems?Ch. 32 - In low-income countries, does it make sense to...Ch. 32 - Is inflation likely to be a severe problem for at...Ch. 32 - Is inflation likely to be a problem for at least...Ch. 32 - What are the major issues with regard to trade...Ch. 32 - What are the major issues with regard to trade...Ch. 32 - Demography can have important economic effects....Ch. 32 - Explain why is it difficult to set aside funds for...Ch. 32 - Why do you think it is difficult for high-income...Ch. 32 - Is it possible to protect workers from losing...Ch. 32 - Explain what will happen in a nation that tries to...Ch. 32 - Why are inflationary dangers lower in the...Ch. 32 - Explain why converging economies may present a...Ch. 32 - Retrieve the following data from The World Bank...Ch. 32 - Prepare a chart that compares India, Spain, and...Ch. 32 - Use the Rule of 72 to estimate how long it will...Ch. 32 - Using the research skills you have acquired,...Ch. 32 - Retrieve the unemployment data from The World Bank...Ch. 32 - Retrieve inflation data from The World Bank data...
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